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Bitcoin and Altcoins Start To Show Signs of Fresh Increase

Aayush Jindal
Last updated: | 2 min read

Bitcoin recovered above USD 10,250, but it struggled to clear the USD 10,400 resistance. Ethereum gained 10% and it broke the USD 360 resistance, XRP is trading nicely above USD 0.242. AMPL, SOL, YFI, LEND and LRC rallied over 25% today.

Bitcoin price started a decent recovery wave above USD 10,250 and USD 10,300. However, BTC struggled to clear the USD 10,400 and USD 10,500 resistance levels. It is currently (08:30 UTC) trading near USD 10,250 and it might find bids near USD 10,150 in the short-term.

More importantly, a few major altcoins either gained bullish momentum or started a decent increase, including ethereum, XRP, litecoin, bitcoin cash, EOS, XLM, LINK, BNB, TRX and ADA. ETH/USD broke the USD 350 and USD 360 resistance levels. XRP/USD is also recovering and it is now trading above USD 0.242.

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Bitcoin price

In the past few hours, bitcoin price managed to recover above the USD 10,200 resistance. BTC even popped above USD 10,400, but it failed to continue higher. The price is currently declining and testing USD 10,250. The first major support is near USD 10,150, below which the price may perhaps retest the USD 10,000 support.

On the upside, the main hurdles are near USD 10,400 and USD 10,500, above which the price might accelerate higher towards the USD 11,000 resistance zone.

Ethereum price

Ethereum price is up over 10% and it surged above the USD 350 and USD 360 resistance levels. ETH ran into the USD 370 resistance, where the bears appeared. The price is currently retreating lower, but the previous resistance near USD 360 and USD 350 are likely to act as supports.

On the upside, the USD 368 and USD 370 levels are important hurdles, above which the price is likely to climb higher towards the USD 400 resistance zone.

Bitcoin cash price is trading flat near the USD 225 level, with an immediate resistance at USD 230. The key barrier for BCH is near the USD 235 level, above which the price is likely to accelerate higher towards the USD 250 resistance. Conversely, a clear break below USD 220 might open the doors for a steady decline towards the USD 200 support.

Chainlink (LINK) is slowly gaining bullish momentum above USD 12.50. The price spiked towards the USD 13.00 level, but it struggled to continue higher. A successful close above USD 13.00 is a must for a fresh rally in the coming sessions. On the downside, the bulls are likely to remain active near USD 12.00 and USD 11.80.

XRP price is up over 2% and it is trading nicely above the USD 0.242 resistance. The price is currently testing the USD 0.245 resistance, above which the price is likely to rise towards USD 0.252 and USD 0.255. If there is a fresh pullback, the USD 0.238 level might protect losses.

Other altcoins market today

In the past three sessions, many altcoins surged over 10%, including AMPL, SOL, YFI, LEND, LRC, REN, ALGO, YFII, SNX, BTS, SUSHI, EWT, THETA, OCEAN, SRM, AR, BAL, NXM, RUNE, KSM and EGLD. Out of these, AMPL jumped 50% and it broke the USD 1.00 barrier.

Overall, bitcoin is showing initial signs of a fresh increase above USD 10,250. However, BTC must break the USD 10,400 and USD 10,500 resistance levels to gain bullish momentum in the coming sessions.

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